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  Chase Business Loans

Chase Business Loans

in Business Loans from Chase Bank

Claimed

Chase Business Loans

Claimed

in Business Loans from Chase Bank

Net Recommendation Score -50

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -50, equating to 2 on a 5 point rating scale.

-50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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3 users don't recommend
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Highlights
Community Rating

Rating not yet determined  

Loan Amount Starting at $5,000
APR  (Fixed APR) N/A
Loan Term (Months) 12 - 84 months

Chase Business Loans Review

Chase business loan is a business financing offering by Chase Bank, based in New York, NY. Founded in 1877, Chase Bank offers access to small business loans in 23 states across the USA.

Chase business loan FAQ

What are Chase business loan’s rates?

Chase business loan offers a fixed APR business financing product but they do not disclose their rates.

Does Chase business loan charge an origination fee?

Yes, Chase business loan charges a loan origination fee.

What limitations does Chase business loan set on the purpose of the business loan?

Chase business loan considers business loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

What types of small business loans does Chase business loan offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Chase business loan provides access to the following business loan types:

  • Unsecured Term Business Loans
  • Lines of Credit
  • SBA Loans
  • Merchant Cash Advances

Does Chase business loan charge prepayment fees?

No, Chase business loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.

How much can you borrow from Chase business loan?

Business loan amounts start at $5,000.

What is the maximum business loan term you can get with Chase business loan?

Chase business loan offers small business loans with terms ranging from 12 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Chase Business Loans?

Chase Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 560 and up to 850 may be eligible for Chase Business Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Chase Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Chase Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

Does Chase Business Loans report your account activity to credit bureaus?

Yes, Chase Business Loans reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 23 states
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Michigan
  • Nevada
  • New Jersey
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Texas
  • Utah
  • Washington
  • West Virginia
  • Wisconsin

Feature Breakdown

No Prepayment Fee
Business Financing Requirements
  • Business Certificate
  • Business License
  • Business Bank Account
Credit Score Range 560 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • Employer Identification Number
Approval Speed 12 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options Automatic Payments
Loan Amount Starting at $5,000
Loan Term 12 - 84 months

Chase Business Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -50, equating to 2 on a 5 point rating scale.

-50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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